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UPDATE: D.A. Davidson Downgrades Western Union Company to Underperform, Lowers PT

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Why Western Union Was Downgraded After Positive Earnings

In a report published Wednesday, D.A. Davidson & Co. downgraded its rating on The Western Union Company (NYSE: WU) from Neutral to Underperform, and lowered its price target from $18.00 to $15.00.

D.A. Davidson noted, “Given the deteriorating outlook, WU shares are likely to be under pressure for the next few quarters so we are lowering our rating from Neutral to UNDERPERFORM. We are cutting our estimates, which also drops our price target from $18 to $15. Our new target represents an unchanged 2013 EV/EBITDA multiple of 8x and P/E of 10x.”

The Western Union Company closed on Tuesday at $17.93.

Latest Ratings for WU

DateFirmActionFromTo
Mar 2015Evercore PartnersUpgradesHoldBuy
Feb 2015CitigroupMaintainsSell
Feb 2015BarclaysMaintainsUnderweight

View More Analyst Ratings for WU
View the Latest Analyst Ratings

Posted-In: D.A. Davidson & Co.Analyst Color Downgrades Analyst Ratings

 

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